Deal or No Deal?

I spoke with a firm located in Jersey City about a prop position. They are no deposit nor any of that education fee crap. They fund you. You get a draw (bi-weekly) against profits and those profits are paid out every quarter. Gross split starts at 50/50 with 250k bp and more is allocated depending on your numbers. They are not CBSX or FINRA as of yet, you trade their fund, ala Bear Fund or T3 Cap.

Is there something I'm missing here? Does this setup sound legit? I don't want to drag my ass over to JC if it's just going to be a waste of my time.

I spoke with a firm located in Jersey City about a prop position. They are no deposit nor any of that education fee crap. They fund you. You get a draw (bi-weekly) against profits and those profits are paid out every quarter. Gross split starts at 50/50 with 250k bp and more is allocated depending on your numbers. They are not CBSX or FINRA as of yet, you trade their fund, ala Bear Fund or T3 Cap.

Is there something I'm missing here? Does this setup sound legit? I don't want to drag my ass over to JC if it's just going to be a waste of my time.

Reading through some of the threads lately, it seems that even if you put up your own money, you're still facing a split of up to 80/20 (I believe this was in one of your threads). So I look at that if I got to split 80/20 risking my money, why not 50/50 risking theirs. Besides, my U4 isn't clean so that would limit me to some BS firm taking my deposit telling me your funds are safe (wink, wink, nudge, nudge) or some "education" firm, which is kinda the same thing - either way I can be screwed out of my money.

I just want to know if this sounds like it could be a legit setup because I really don't like wasting my time.

Reading through some of the threads lately, it seems that even if you put up your own money, you're still facing a split of up to 80/20 (I believe this was in one of your threads). So I look at that if I got to split 80/20 risking my money, why not 50/50 risking theirs. Besides, my U4 isn't clean so that would limit me to some BS firm taking my deposit telling me your funds are safe (wink, wink, nudge, nudge) or some "education" firm, which is kinda the same thing - either way I can be screwed out of my money.

I just want to know if this sounds like it could be a legit setup because I really don't like wasting my time.

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The reason I'm asking is because it's almost next to impossible for a marginal trader to make money with that setup. Profit splits work great for guys who know they have an edge and want to trade size.

If you don't have an edge or you are not a good trader, its almost impossible to come out ahead if heads you win .50, tails you lose 1.00. The fact that you are not putting up any money means nothing in that if you lose any money with them they are going to give you the boot anyway. So either way you would be wasting your time.